Augur’s report claim a big amount of interest of their betting platform, while the truth is they’re struggling with a low adoption.
Betting platform, Augur just posted their weekly report on their Medium account recently. Dated January 10th, the report contains the development the Forecast Foundation has been working on in the past week, such as trading page redesign and finalizing the new code for P&L calculation.
The company also reveals the current market size of their DApp in number of contracts as well as in fiat and crypto value.
They claim to have a total of $2,040,934.63 or 13,451 ETH of Open Interest and $1,896,284.45 or 12,498 ETH of Cash Contract.
The claim is refuted by Tetras Capital’s co-founder, Alex Sunnarborg who said that the actual value is way below the stated amount on the report.
In a tweet, Sunnarborg said that the $2 million something amount included markets that have already ended.
“If we exclude markets that have ended there is <$100k total money at stake on Augur,” he added.
Augur metrics showing ~$2m ‘total money at stake’ include markets that have already ended.
— Alex Sunnarborg (@alexsunnarborg) January 10, 2019
The truth of the matter, Augur is not the only dApp that struggles
Some consider the low adoption as the evidence of the “fundamental failure” of dApps to deliver their promises, however, not everyone agreed to that opinion. Another research by State of dApps also reveals that around 17% of dApps have been abandoned.
Defying the populare opinion, Gnosis founder, Martin Koppelmann believes that the success of dApps shouldn’t be measured by the number of users, instead, it should be seen from how many dApps are created and use contracts from other dApps.
Despite the disagreement on the success measurement, no one could deny TRON’s achievement, which undoubtedly has surpassed the other similar platforms, except probably financial research and analysis giant, Weiss Crypto Ratings that claimed EOS and ETH are actually better than TRON.
For the record, by the end of last year, TRON recorded more than 100 million transactions in 173 days across 50 dApps with 1 million accounts.
The founder, Justin Sun even boldly invited ConsenSys devs to join the “TRON family”, while at the same time tweeting regularly how his network successfully surpasses Ethereum in terms of transaction number.
EOS SUFFERED A HUGE DAPP USER DROP OUT, LATEST REPORT FINDS
- EOS Daily Active Users Haven Fallen 80%
- Users Double But Retention Rate Poor
- Key dApp Growth Areas
The latest annual dApp Market Report by Dapp.com says that the number of daily decentralized application (dApp) users on EOS has crashed 80% since last November.
EOS DAILY ACTIVE USERS HAVEN FALLEN 80%
Prior to November, EOS was the blockchain with the largest number of daily active users. There was an average of nearly 80,000 (79,749) users using dapps on EOS every day. Ever since EIDOS has launched, EOS’s DAU has dropped dramatically to an average of 15,363, which is an 80% decrease.
This is made worse by the fact that daily active EOS dApps have also fallen by as much as 30% since November too. Overall, this demise is likely due to the fact that a number of EOS’ leading dApps, including EOSbet and Karma, left the blockchain to join Wax’s platform instead.
However, what’s interesting is that, in terms of transaction value, EOS generated a volume of almost $5
EOS also had the highest proportion of active dApps in 2019 despite the crash, at 479 out of 493, or 97%. Ethereum had the lowest proportion of active dApps at just 62%, although some of this can be accounted for by early dApps which have fallen out of usage.
USERS DOUBLE BUT RETENTION RATE POOR
According to the report, the number of active dApp users in 2019 is 3.11 million, compared to 1.48 million in 2018. Whilst this is over double the total number of users, 2.77 million of these were new users in 2019. Only 348,000 currently active users were also active in 2018.
This gives a not particularly impressive retention rate of 23.5%, or just 11% of current users who have been around since 2018.
However, the dApp landscape of today is much different from that of 2018. With an increase in active dApps across the board, one assumes that today’s users have several more compelling reasons to stick around.
KEY DAPP GROWTH AREAS
One of these reasons is the growth in Decentralized Finance (DeFi) dApps. Excluding decentralized exchanges, the number of DeFi dApp users has grown by 610%, and the transaction volume has increased by 251%.
Other areas in which dApps user and volume growth has increased the most are gambling, high-risk dApps, and gaming products.
Daily Tech Analysis for EOS -18/01/2020
EOS gained 1.52% on Friday. Following on from a 1.94% rise on Thursday, EOS ended the day at $3.8961.
A bullish start to the day saw EOS rise to a late morning high $4.0500 before hitting reverse.
Coming up against the first major resistance level at $4.0163, EOS slid to an early afternoon intraday low $3.7334.
Steering clear of the first major support level at $3.5894, EOS broke back through the first major resistance level to a late intraday high $4.0623.
A second pullback to $3.7 levels and into the red was short-lived. EOS found support late in the day to close out in the green.
At the time of writing, EOS was up by 1.1% to $3.9390. A mixed start to the day saw EOS rise from an early
EOS left the major support and resistance levels untested early on.
For the day ahead
EOS would need to move back through to the morning high to $4.00 levels to support a run at the first major resistance level at $4.0611.
Support from the broader market would be needed, however, for EOS to breakout back through to $4.00 levels.
Barring a broad-based crypto rally, Friday’s high $4.0623 and first major resistance level would likely cap any upside.
Failure to move back through the morning high to $4.00 levels could see EOS hit reverse.
A fall back through to sub-$3.90 levels would bring the first major support level at $3.7322 into play before any recovery.
Barring an extended sell-off, however, EOS should steer clear of the second major support level at $3.5684.
Looking at the Technical Indicators
Major Support Level: $3.7322
Major Resistance Level: $4.0611
23.6% FIB Retracement Level: $6.62
38% FIB Retracement Level: $9.76
62% FIB Retracement Level: $14.82
EOS price analysis: EOS/USD creeps above the 20-day Bollinger Band
- The bulls are aiming for the $3.50 psychological level.
- The Elliott Oscillator shows sustained bullish sentiment.
EOS/USD daily chart
Following a bearish Monday, EOS/USD bulls jumped back into the driver’s seat and took the price up from $3.10 to $3.29. EOS/USD is trending in an upwards channel formation and has crept above the 20-day Bollinger Band, indicating that the asset is overpriced. This, along with the fact that the Relative Strength Index (RSI) has crept into the overbought zone, both hint that bearish correction may be round the corner. Both the Moving Average Convergence/Divergence (MACD) and Elliott Oscillator indicate sustained bullish sentiment.